New Effort to Modernize America’s Nuclear Fuel Cycle and Support Advanced Reactor Deployment WASHINGTON—The U.S. Department of Energy (DOE) today issued a Request for Information (RFI) inviting states to express interest in hosting Nuclear Lifecycle Innovation Campuses, a new effort to modernize the nation’s full nuclear fuel cycle and strengthen America’s leadership in advanced nuclear energy. This action marks the first step towards potentially establishing voluntary Federal-State partnerships designed to advance regional economic growth, enhance national energy security, and build a coherent, end-to-end nuclear energy strategy for the country. “Unleashing the next American nuclear renaissance will drive innovation, fuel economic growth, and create good-paying American jobs while delivering the affordable, reliable and secure energy America needs to power its future,” said U.S. Energy Secretary Chris Wright. “Nuclear Lifecycle Innovation Campuses give us the opportunity to work directly with states on regional priorities that support President Trump’s vision to revitalize America’s nuclear base.” The proposed campuses could support activities across the full nuclear fuel lifecycle, including fuel fabrication, enrichment, reprocessing used nuclear fuel, and disposition of waste. Depending on state priorities and regional capabilities, the sites could also host advanced reactor deployment, power generation, advanced manufacturing, and co located data centers. DOE is inviting states to provide clear statements of interest and constructive feedback on the structure of the Innovation Campuses. Submissions should outline state priorities—such as workforce development, infrastructure investment, economic diversification, or technology leadership— and describe the scope of activities the state envisions hosting. States are also encouraged to identify the funding structures, risk sharing approaches, incentives and federal partnerships required to successfully establish and sustain a full-cycle Innovation Campus.  Responses to the RFI are requested no later than April 1, 2026. Interested parties can learn more and respond at SAM.gov. ###

Oil traders are paying a premium for bullish call options for the longest stretch in about 14 months as they huddle in the options market to protect against the risk of a new confrontation between the US and Iran.  The global Brent benchmark has registered a call skew for 14 consecutive sessions, while the equivalent US marker has seen such a pattern for the 13 most recent trading days. Those are the longest stretches since late 2024, when Israel launched attacks on Iranian military installations.  Thousands are estimated to have been killed in the recent wave of unrest to challenge Supreme Leader Ayatollah Ali Khamenei and his regime, sparking an international outcry, including warnings from US President Donald Trump of “strong action” if the killings did not stop. Trump said this week that the US has a “big armada” headed to the Middle East because of Iran, but added that he hoped the US won’t have to use it.  Options markets have been the main way traders have wagered on heightened geopolitical risk in the Middle East in recent years, in a period that started with Hamas’s attack on Israel in October 2023. When the US struck Iran last year, premiums for calls spiked and then collapsed after it became apparent that oil facilities had been spared.  “The focus on Iran continues,” said Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management. “The market will likely remain nervous over the coming days.” The uncertainty is leading to chunky additions of bullish options contracts. Open interest in Brent call options has accrued at the fastest pace this month in at least six years, according to Bloomberg calculations of ICE Futures Europe data. It follows the busiest ever day of Brent crude call options trading earlier this month. Hedge funds have also boosted net-bullish wagers on crude

Oil rose to a fresh four-month high after US President Donald Trump threatened another attack on Iran, urging Tehran to negotiate a nuclear deal. “Hopefully Iran will quickly ‘Come to the Table’ and negotiate a fair and equitable deal,” Trump said in a post on his Truth Social network, adding that “the next attack will be far worse!” than one that took place last year. The potential risk to Iranian supplies has injected a premium into oil prices and led futures to start the year on a strong footing, up more than 10% this month, despite forecasts for a glut. That has also kept the cost of bullish options high relative to bearish ones. West Texas Intermediate futures settled above $63 a barrel after Trump’s post, the highest level since the end of September, extending a 2.9% jump in the previous session. Prices eased off of intra-day highs after Iran’s mission to the UN repeated in a post on X that it stands ready for dialogue based on mutual respect and interests, but said it will “defend itself and respond like never before,” to US aggression. Further capping gains, a gauge of the dollar rebounded after Treasury Secretary Scott Bessent said the US continues to have a “strong dollar” policy under Trump, and denied that the administration is intervening in FX markets, specifically to sell the dollar against the yen. The uptick in the dollar made commodities priced in the currency less attractive. Trump on Wednesday also said the fleet of US ships he’d ordered to the Middle East is larger than the one sent to Venezuela, where President Nicolas Maduro was outed by US forces earlier this year. There’s already been regional reaction to Trump’s signals over recent days. The Iranian and Qatari foreign ministers stressed the need to

India has more work to do in order to satisfy US concerns about its purchases of Russian oil and secure tariff relief, President Donald Trump’s trade representative said. While New Delhi has “made a lot of progress” on curbing buys of Russian crude, “it’s hard for them” to completely wean off the supplies because “they like the discount that you get from Russian oil,” US Trade Representative Jamieson Greer said Tuesday in a Fox Business interview.    “I am in frequent contact with my counterpart in India. I have a great working relationship with him, but they still have a ways to go on this point,” Greer said. The comments signal a deal to lower duties on Indian goods is still a ways off. US and Indian officials have been in talks for months over an agreement to lower Trump’s 50% tariff. The president imposed the rate last year, arguing that India’s oil purchases were fueling Russia’s war effort in Ukraine.  Discounted Russian crude has continued to make up a significant portion of Indian imports, a dynamic that analysts say may persist well into 2026. In the meantime, India and the European Union finalized a free-trade pact that was two decades in the making. The agreement was seen as a countermeasure to Trump’s aggressive trade policies.  “I think India comes out on top on this. Frankly, they have more market access into Europe. It sounds like they have some additional immigration rights,” Greer said Tuesday. “India is going to have a heyday with this. They have low-cost labor. And it looks like the EU is doubling down on globalization when we’re trying to fix some of the problems with globalization here in the US.” WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone.

In its latest short term energy outlook (STEO), which was released on January 13, the U.S. Energy Information Administration (EIA) projected that the U.S. on-highway diesel fuel retail price will drop in 2026. According to its latest STEO, the EIA sees the diesel price averaging $3.43 per gallon in 2026. In 2025, the U.S. on-highway diesel fuel retail price came in at $3.66 per gallon, the STEO showed. A quarterly breakdown included in the STEO projected that the U.S. diesel price will average $3.50 per gallon in the first quarter of 2026, $3.40 per gallon in the second quarter, and $3.41 per gallon across the third and fourth quarters of this year. The STEO showed that, in 2025, the U.S. diesel price came in at $3.63 per gallon in the first quarter, $3.55 per gallon in the second quarter, $3.76 per gallon in the third quarter, and $3.70 per MMBtu in the fourth quarter. In its latest diesel fuel update, which was released on January 27, the EIA showed a rising trend in the average U.S. on highway diesel fuel price. According to this fuel update, the U.S. on-highway diesel fuel price averaged $3.459 per gallon on January 12, $3.530 per gallon on January 19, and $3.624 per gallon on January 26. The January 26 price was $0.035 per gallon lower than the year ago price, however, the EIA fuel update showed. Of the five Petroleum Administration for Defense District (PADD) regions highlighted in the EIA’s latest fuel update, the West Coast was shown to have the highest U.S. on-highway diesel fuel price as of January 26, at $4.301 per gallon. The Gulf Coast was shown in the update to have the lowest U.S. on-highway diesel fuel price as of January 26, at $3.325 per gallon. A glossary section of the

Chevron Corp said Tuesday it has appointed Thomas Horton, a partner at Global Infrastructure Partners (GIP) of global asset manager BlackRock Inc, as an independent director, expanding its board to 13 members. Horton, 64, has joined Chevron’s Board Audit Committee, the Houston, Texas-based energy giant said in an online statement. “Horton previously held senior roles as chairman of American Airlines Group Inc, and chairman, CEO and president at American Airlines Inc and AMR Corp, where he successfully built American Airlines’ network both organically and through its combination with USAirways in 2015”, Chevron noted. Horton was also senior adviser at private equity investor Warburg Pincus. “In addition to executive management roles, Horton has served as a director with some of the Fortune 500’s top brands, including current seats on the boards of Walmart and General Electric (operating as GE Aerospace). He previously served on the boards of Qualcomm and Enlink Midstream”, Chevron added. Chair and chief executive Mike Wirth said of Horton, “His proven leadership, diverse board experience and thoughtful approach to governance will be invaluable as we continue to drive growth and create long-term value”. Chevron’s board now has 11 independent directors, according to the list of members on its website. Besides Wirth, the other non-independent is John Hess, who became a Chevron director July 2025 after Chevron acquired Hess Corp. In an earlier appointment, Chevron said November 3, 2025 that its assistant controller Amit Ghai will replace Alana Knowles as controller effective March 1, 2026. Knowles is expected to retire after 38 years with Chevron. “Ghai will lead Chevron’s accounting policy, corporate and external financial reporting, internal controls, global business services and digital finance teams”, Chevron said. Recently Wirth said he was in discussion with the board about his retirement. The 65-year-old has been chair of the board and CEO